TOBAM Maximum Diversification All World Developed ex North America USD 31/12/2019 Instrument Weight BP PLC 0.10% IDEMITSU KOSAN CO LTD 0.21% INPEX HOLDINGS INC 0.07% JX HOLDINGS INC 0.09% NESTE OIL OYJ 1.16% OMV AG 0.08% SANTOS LTD 0.02% SBM OFFSHORE NV 0.05% TGS NOPEC GEOPHYSICAL CO ASA 0.02% VOPAK 0.02% WOOD GROUP (JOHN) PLC 0.02% AIR LIQUIDE 0.23% AIR WATER INC 0.02% AKZO NOBEL 0.12% ALUMINA LTD 0.03% AMCOR PLC-CDI 0.08% AVON RESOURCES LTD 0.53% BORAL LTD 0.02% CHR HANSEN HOLDING A/S 0.08% DAICEL CHEMICAL INDUSTRIES 0.02% DOWA HOLDINGS CO LTD 0.01% EMS-CHEMIE HOLDING AG-REG 0.03% FLETCHER BUILDING LTD 0.02% FORTESCUE METALS GROUP LTD 0.60% GIVAUDAN-REG 0.16% HITACHI CHEMICAL CO LTD 0.03% HUHTAMAKI OYJ 0.03% ISRAEL CHEMICALS LTD 0.02% JAMES HARDIE INDUSTRIES-CDI 0.07% JFE HOLDINGS INC 0.02% KANSAI PAINT CO LTD 0.03% KURARAY CO LTD 0.03% MITSUBISHI MATERIALS CORP 0.02% NEWCREST MINING LTD 1.35% TOBAM Maximum Diversification All World Developed ex North America USD 31/12/2019 Instrument Weight NIPPON PAINT CO LTD 0.05% NIPPON PAPER INDUSTRIES CO L 0.04% NIPPON SHOKUBAI CO LTD 0.01% NISSAN CHEMICAL INDUSTRIES 0.04% NOF CORP 0.02% NORTHERN STAR RESOURCES LTD 0.66% NOVOZYMES A/S-B SHARES 0.07% OJI PAPER CO LTD 0.03% ORICA LTD 0.02% ORORA LTD 0.02% SARACEN MINERAL HOLDINGS LTD 0.32% SMURFIT KAPPA GROUP PLC 0.04% SYMRISE AG 0.04% TAIHEIYO CEMENT CORP 0.02% TAIYO NIPPON SANSO CORP 0.02% TEIJIN LTD 0.02% THYSSENKRUPP AG 0.04% TORAY INDUSTRIES INC 0.02% WIENERBERGER AG 0.02% ADP 0.04% AENA SA 0.09% ALFA LAVAL AB 0.04% ALL NIPPON AIRWAYS CO LTD 0.07% ALS LTD 0.02% ANDRITZ AG 0.02% ASSA ABLOY AB-B 0.14% ATLANTIA SPA 0.07% AUCKLAND INTL AIRPORT LTD 0.04% AURIZON HOLDINGS LTD 0.05% BELIMO HOLDING AG-REG 0.02% BRAMBLES LTD 0.08% BUNZL PLC 0.06% BUREAU VERITAS SA 0.04% CAPITA GROUP PLC 0.14% CENTRAL JAPAN RAILWAY CO 0.22% CIMIC GROUP LTD 0.01% CK HUTCHISON HOLDINGS LTD 0.13% TOBAM Maximum Diversification All World Developed ex North America USD 31/12/2019 Instrument Weight CLEANAWAY WASTE MANAGEMENT L 0.03% COMFORTDELGRO CORP LTD 0.08% COMSYS HOLDINGS CORP 0.02% DASSAULT AVIATION SA 0.02% DEUTSCHE LUFTHANSA-REG 0.19% DSV PANALPINA A/S 0.13% EAST JAPAN RAILWAY CO 0.20% EASYJET PLC 0.44% EPIROC AB-A 0.06% FERGUSON PLC 0.08% FERROVIAL SA 0.06% FISCHER (GEORG)-REG 0.03% FLUGHAFEN ZUERICH AG-REG 0.02% FRAPORT AG 0.02% GEA GROUP AG 0.04% GEBERIT AG-REG 0.13% GETLINK SE 0.05% HANKYU HANSHIN HOLDINGS INC 0.06% HINO MOTORS LTD 0.02% HOMESERVE PLC 0.03% HOSHIZAKI CORP 0.55% HOWDEN JOINERY GROUP PLC 0.03% IHI CORP 0.02% IMCD GROUP NV 0.03% INTERTEK GROUP PLC 0.05% INTL CONSOLIDATED AIRLINE-DI 0.11% ISS A/S 0.08% ITOCHU CORP 0.21% JAPAN AIRLINES CO LTD 0.07% JARDINE MATHESON HLDGS LTD 0.75% JARDINE STRATEGIC HLDGS LTD 0.34% JGC HOLDINGS CORP 0.02% JS GROUP CORP 0.13% KAMIGUMI CO LTD 0.01% KEIHAN ELECTRIC RAILWAY CO 0.03% KEIO CORP 0.04% KEISEI ELECTRIC RAILWAY CO 0.04% TOBAM Maximum Diversification All World Developed ex North America USD 31/12/2019 Instrument Weight KINGSPAN GROUP PLC 0.06% KINTETSU CORP 0.06% KONE OYJ-B 0.15% KUEHNE & NAGEL INTL AG-REG 0.06% KYOWA EXEO CORP 0.02% KYUSHU RAILWAY COMPANY 0.03% MACQUARIE ATLAS ROADS GROUP 0.02% MEGGITT PLC 0.04% MITSUBISHI HEAVY INDUSTRIES 0.08% MIURA CO LTD 0.02% MONOTARO CO LTD 0.02% MTR CORP 0.06% MTU AERO ENGINES HOLDING AG 0.03% NAGOYA RAILROAD CO LTD 0.04% NANKAI ELECTRIC RAILWAY CO 0.02% NIPPON EXPRESS CO LTD 0.03% NWS HOLDINGS LTD 0.06% ODAKYU ELECTRIC RAILWAY CO 0.05% PARK24 CO LTD 0.12% PHILIPS LIGHTING NV 0.39% QANTAS AIRWAYS LTD 0.05% REED ELSEVIER PLC 0.32% RELIANCE WORLDWIDE CORP LTD 0.23% RENTOKIL INITIAL PLC 0.07% SANKYU INC 0.02% SANWA HOLDINGS CORP 0.02% SATS LTD 0.02% SECOM CO LTD 0.12% SEIBU HOLDINGS INC 0.02% SEINO HOLDINGS CO LTD 0.01% SG HOLDINGS CO LTD 0.03% SGS SA-REG 0.03% SHIMIZU CORP 0.04% SIEMENS GAMESA RENEWABLE ENE 0.03% SINGAPORE AIRLINES LTD 0.02% SINGAPORE TECHNOLOGIES ENG 0.03% SKANSKA AB-B SHS 0.06% TOBAM Maximum Diversification All World Developed ex North America USD 31/12/2019 Instrument Weight SMS CO LTD 0.01% SOHGO SECURITY SERVICES CO 0.03% SPIRAX-SARCO ENGINEERING PLC 0.06% SYDNEY AIRPORT 0.09% TAISEI CORP 0.05% TECHTRONIC INDUSTRIES CO 0.44% TELEPERFORMANCE 0.03% TOBU RAILWAY CO LTD 0.05% TOKYU CORP 0.07% TOMRA SYSTEMS ASA 0.02% TRANSURBAN GROUP 0.19% TRAVIS PERKINS PLC 0.02% VESTAS WIND SYSTEMS A/S 0.59% WARTSILA OYJ 0.04% WEST JAPAN RAILWAY CO 0.10% WOLTERS KLUWER 0.13% YAMATO HOLDINGS CO LTD 0.06% YANGZIJIANG SHIPBUILDING 0.18% ABC-MART INC 0.28% ACCOR SA 0.03% ADIDAS AG 0.47% ASICS CORP 0.38% B&M EUROPEAN VALUE RETAIL SA 0.03% BARRATT DEVELOPMENTS PLC 0.07% BAYERISCHE MOTOREN WERKE AG 0.17% BAYERISCHE MOTOREN WERKE-PFD 0.02% BELLWAY PLC 0.04% BENESSE HOLDINGS INC 0.01% BERKELEY GROUP HOLDINGS/THE 0.05% BRIDGESTONE CORP 0.09% BURBERRY GROUP PLC 0.08% CARNIVAL PLC 0.05% CASIO COMPUTER CO LTD 0.03% COMPASS GROUP PLC 0.32% CONTINENTAL AG 0.09% DELIVERY HERO AG 0.05% DOMINO'S PIZZA ENTERPRISES L 0.27% TOBAM Maximum Diversification All World Developed ex North America USD 31/12/2019 Instrument Weight ECHO ENTERTAINMENT GROUP LTD 0.02% ELECTROLUX AB-SER B 0.03% ESSILORLUXOTTICA 0.28% FAST RETAILING CO LTD 0.31% FIAT CHRYSLER AUTOMOBILES NV 0.11% FUJI HEAVY INDUSTRIES LTD 0.18% GENTING SINGAPORE PLC 0.03% GOLDWIN INC 0.11% GREGGS PLC 0.16% HENNES & MAURITZ AB-B SHS 0.27% HERMES INTERNATIONAL 0.10% HIKARI TSUSHIN INC 0.04% HUGO BOSS AG -ORD 0.03% HUSQVARNA AB-B SHS 0.02% INCHCAPE PLC 0.02% INDITEX 0.25% ISETAN MITSUKOSHI HOLDINGS L 0.03% IZUMI CO LTD 0.01% J FRONT RETAILING CO LTD 0.02% JB HI-FI LTD 0.02% JD SPORTS FASHION PLC 0.02% JUST EAT PLC 0.15% JUST EAT TAKEAWAY.COM NV 0.24% K'S HOLDINGS CORP 0.32% KINGFISHER PLC 0.04% MARKS & SPENCER GROUP PLC 0.04% MARUI GROUP CO LTD 0.16% MAZDA MOTOR CORP 0.02% MICHELIN (CGDE)-B 0.13% MINTH GROUP LTD 0.19% MITSUBISHI MOTORS CORP 0.02% NAGACORP LTD 0.21% NAMCO BANDAI HOLDINGS INC 0.89% NEXT PLC 0.63% NIKON CORP 0.01% NISSAN MOTOR CO LTD 0.09% NITORI CO LTD 0.97% TOBAM Maximum Diversification All World Developed ex North America USD 31/12/2019 Instrument Weight NOKIAN RENKAAT OYJ 0.02% OCADO GROUP PLC 0.45% ORIENTAL LAND CO LTD 0.57% PADDY POWER BETFAIR PLC GBP 0.06% PAN PACIFIC INTERNATIONAL HO 0.57% PANDORA A/S 0.53% PERSIMMON PLC 0.07% PEUGEOT SA 0.09% PUMA AG 0.04% RAKUTEN INC 0.10% RINNAI CORP 0.05% RYOHIN KEIKAKU CO LTD 0.19% SAMSONITE INTERNATIONAL SA 0.12% SANKYO CO LTD 0.09% SEB SA 0.02% SEGA SAMMY HOLDINGS INC 0.11% SEKISUI HOUSE LTD 0.08% SHANGRI-LA ASIA LTD 0.01% SHARP CORP 0.02% SHIMAMURA CO LTD 0.24% SHIMANO INC 0.08% SJM HOLDINGS LTD 0.01% SKYLARK CO LTD 0.48% SODEXHO ALLIANCE SA 0.06% SONY CORP 0.08% SSP GROUP PLC 0.02% SUSHIRO GLOBAL HOLDINGS LTD 0.28% SUZUKI MOTOR CORP 0.44% TABCORP HOLDINGS LTD 0.03% TAKASHIMAYA CO LTD 0.01% TAYLOR WIMPEY PLC 0.04% TUI AG-DI 0.03% USS CO LTD 0.02% VALEO SA 0.05% WESFARMERS LTD 0.21% WHITBREAD PLC 0.06% XINYI GLASS HOLDINGS LTD 0.20% TOBAM Maximum Diversification All World Developed ex North America USD 31/12/2019 Instrument Weight YAMADA DENKI CO LTD 0.29% YAMAHA MOTOR CO LTD 0.03% YUE YUEN INDUSTRIAL HLDG 0.28% ZALANDO SE 0.48% ZENSHO CO LTD 0.25% ZOZO INC 0.24% A2 MILK CO LTD NZ 0.68% AARHUSKARLSHAMN AB 0.02% AEON CO LTD 0.09% AIN PHARMACIEZ INC 0.22% AJINOMOTO CO INC 0.08% ANHEUSER-BUSCH INBEV SA/NV 0.42% ASAHI BREWERIES LTD 0.13% ASSOCIATED BRITISH FOODS PLC 0.06% BAKKAFROST P/F 0.09% BARRY CALLEBAUT AG-REG 0.04% BEIERSDORF AG 0.11% BRITVIC PLC 0.02% CALBEE INC 0.03% CARLSBERG AS-B 0.10% CARREFOUR SA 0.17% COCA-COLA AMATIL LTD 0.03% COCA-COLA HBC AG-CDI 0.04% COCA-COLA WEST HOLDINGS CO L 0.40% COLRUYT SA 0.35% COSMOS PHARMACEUTICAL CORP 0.25% DAIRY FARM INTL HLDGS LTD 0.04% DANONE 0.27% DAVIDE CAMPARI-MILANO SPA 0.03% DIAGEO PLC 0.51% ESSITY AKTIEBOLAG-B 0.12% EZAKI GLICO CO LTD 0.24% FAMILYMART CO LTD 0.76% FANCL CORP 0.01% GROWELL HOLDINGS CO LTD 0.11% HEINEKEN HOLDING NV 0.06% HEINEKEN NV 0.13% TOBAM Maximum Diversification All World Developed ex North America USD 31/12/2019 Instrument Weight HENKEL KGAA 0.06% HENKEL KGAA-VORZUG 0.12% HOUSE FOODS CORPORATION 0.01% ICA GRUPPEN AB 0.52% ITO EN LTD 0.02% JERONIMO MARTINS 0.09% KAO CORP 0.25% KERRY GROUP PLC-A 1.26% KESKO OYJ-B SHS 0.11% KEWPIE CORP 0.02% KIRIN HOLDINGS CO LTD 0.12% KONINKLIJKE AHOLD DELHAIZE NV 0.40% KOSE CORP 0.01% L'OREAL 0.30% LAWSON INC 0.35% LINDT & SPRUENGLI AG-PC 0.26% LINDT & SPRUENGLI AG-REG 0.34% LION CORP 0.29% MATSUMOTOKIYOSHI HOLDINGS CO 0.02% MEIJI HOLDINGS CO LTD 0.06% METCASH LTD 0.06% MORINAGA & CO LTD 0.22% MORRISON <WM.> SUPERMARKETS 0.04% MOWI ASA 0.21% NESTLE SA-REG 1.43% NH FOODS LTD 0.07% NICHIREI CORP 0.32% NISSIN FOOD PRODUCTS CO LTD 0.03% ORKLA ASA 0.21% PERNOD-RICARD SA 0.20% POLA ORBIS HOLDINGS INC 0.01% RECKITT BENCKISER GROUP PLC 0.42% REMY COINTREAU 0.02% ROYAL UNIBREW 0.40% SAINSBURY (J) PLC 0.31% SEVEN & I HOLDINGS CO LTD 0.18% SHISEIDO CO LTD 0.12% TOBAM Maximum Diversification All World Developed ex North America USD 31/12/2019 Instrument Weight SUGI HOLDINGS CO LTD 0.01% SUN ART RETAIL GROUP LTD 0.26% SUNDRUG CO LTD 0.02% SUNTORY BEVERAGE & FOOD LTD 0.03% TAKARA HOLDINGS INC 0.01% TATE & LYLE PLC 0.06% TESCO PLC 0.21% TOYO SUISAN KAISHA LTD 0.06% TREASURY WINE ESTATES LTD 0.05% TSURUHA HOLDINGS INC 0.03% UNICHARM CORP 0.09% UNILEVER NV 0.57% UNILEVER PLC 0.41% VITASOY INTL HOLDINGS LTD 0.29% WH GROUP LTD 0.90% WILMAR INTERNATIONAL LTD 0.04% WOOLWORTHS LTD 0.21% YAKULT HONSHA CO LTD 0.02% YAMAZAKI BAKING CO LTD 0.32% AMARIN CORP PLC -ADR 0.92% AMBU A/S-B 0.32% AMPLIFON SPA 0.02% ARGENX SE 0.03% ASAHI INTECC CO LTD 0.04% ASCENDIS PHARMA A/S - ADR 0.71% ASTELLAS